KUALA LUMPUR: Scomi Engineering Bhd's major subsidiary Scomi Rail Bhd has been served with a winding-up petition over a RM1.01mil claim by PSI Incontrol Sdn Bhd.
Scomi Eng said on Friday Scomi Rail was served with the petition on Tuesday over the disputed sums which PSI alleged totalled RM1.01mil together with interest.
“The dispute arose in connection with an agreement entered between Scomi Rail and PSI on Sept 26, 2012 which has now been terminated by Scomi Rail,” it said.
“Scomi Rail will take steps to apply to strike-off the petition because the debt is disputed for reasons, amongst others, due to PSI's failure to rectify its poor performance of its obligations under the contract. The Petition is therefore misconceived,” it said.
Scomi Engineering also said the winding up proceedings would not have any significant financial and/or operational impact on the group for the financial year ending March 31, 2017.
“No material loss is expected to arise from the winding up proceedings. As to-date, Scomi Engineering's cost of investment in Scomi Rail is approximately RM15mil,” it said.
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